There was an increase in Altcoins such as ETH with almost 8% for last 24 hours as well compared with almost 4% of increase in the BTC. There are many cryptocurrencies which have traded higher since the tensions between Ukraine and Russia has also eased.
Vladimir Putin, the Russian President mentioned that during the news conference he said that it is all set to work ahead with West de-escalate tensions upon Ukraine. However, Russia even decided to pull back partially the troops from various military districts that are bordering Ukraine.
Impact on Altcoins and Cryptocurrency
With the rise in Equities & cryptocurrencies, while the most traditional as well as safe havens like gold and U.S. dollar has also declined over last 24 hours.
On the other hand, the Altcoins which are also known as the alternative cryptocurrencies led the rally. This clearly indicate the renewed appetite for the risk among various crypto traders. On the other hand, ETH was also up for 8% for last 24 hours, as compared to the 4% increase in the BTC over similar set of period.
Yet, the trading volume in bitcoin spot market stays to be quite weak comparative to the previous price jumps. This can also point to restricted gains almost $46,000-$50,000 BTC as per the technical indicators.
Recently, traders also look quite indecisive. As, it is shown by market sentiment that are hovering between the greed and fear. Bitcoin which is also ranging between support level of $42,000 and resistance level of $46,000. In case there is any break in bitcoin or Altcoins breaks out from this range. We may also see enhanced market activity.
Bullish sentiment
The Fear and Greed Index of Bitcoin and altcoin took a dip back in the territory of “fear” as traders. They have also reacted to the macroeconomic along with the uncertainty in geopolitical way.
